Quent Capital LLC Acquires 30 Shares of Elevance Health, Inc. (NYSE:ELV)

Quent Capital LLC grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,488 shares of the company’s stock after acquiring an additional 30 shares during the period. Quent Capital LLC’s holdings in Elevance Health were worth $549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lifeworks Advisors LLC grew its holdings in Elevance Health by 2.5% during the third quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock valued at $539,000 after purchasing an additional 25 shares during the period. Catalyst Financial Partners LLC lifted its position in shares of Elevance Health by 2.9% during the 3rd quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock valued at $477,000 after buying an additional 26 shares in the last quarter. Fullcircle Wealth LLC grew its stake in shares of Elevance Health by 1.5% during the 3rd quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock valued at $906,000 after acquiring an additional 26 shares during the period. Dunhill Financial LLC increased its holdings in Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after acquiring an additional 26 shares in the last quarter. Finally, TCI Wealth Advisors Inc. raised its stake in Elevance Health by 5.6% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 506 shares of the company’s stock worth $263,000 after acquiring an additional 27 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

Shares of NYSE:ELV opened at $391.04 on Wednesday. The firm has a fifty day simple moving average of $385.59 and a two-hundred day simple moving average of $452.12. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $90.69 billion, a P/E ratio of 15.27, a PEG ratio of 1.17 and a beta of 0.83.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, analysts expect that Elevance Health, Inc. will post 34.05 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.75%. The ex-dividend date is Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is presently 25.46%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ELV shares. Mizuho reduced their price objective on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Raymond James set a $485.00 target price on Elevance Health in a research report on Friday, October 18th. Finally, Barclays boosted their price target on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Company Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.